Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on Genelux Corp. (GNLX – Research Report) and keeping the price target at $30.00.
Emily Bodnar has given her Buy rating due to a combination of factors including Genelux Corp.’s strategic financial positioning and potential growth prospects. The company has shown a commitment to advancing its clinical trials, particularly the Phase 3 ovarian cancer study and the Phase 2 recurrent NSCLC study, which are expected to increase operating expenses in 2025. Despite these costs, Genelux ended 2024 with a solid cash position, bolstered by a recent equity raise, indicating sufficient funding for ongoing projects.
Furthermore, the Buy rating is supported by a discounted cash flow analysis, which projects the company’s financial performance through 2037. This analysis incorporates a 12% discount rate and considers the potential success of key treatments like Olvi-Vec for ovarian cancer. While there are inherent risks, such as safety concerns and regulatory challenges, the potential upside from additional indications and assets under development contributes to the positive outlook and the $30 price target.
In another report released on March 26, Maxim Group also maintained a Buy rating on the stock with a $10.00 price target.